These are teachers of a primary school based in Kenema city. This school was founded in 1992. Teachers of the school have come to SMT, a partner of Kiva.org in Makeni, Northern Sierra Leone, to seek a loan. They requested a loan of 8,700,000 Sierra Leonean Leones (SLL) for the entire group. With the help of this loan, these teachers are in a better position to buy or invest in something that their mere salaries cannot let them do. Saidu is the leader of the group. He is age thirty-five. He was born in Sumbuya, in Eastern Sierra Leone. He is married and has one child who is attending primary school. Saidu has been in the teaching profession for twelve years now. He has requested this loan in order to pay college fees for himself and school fees for his child.
About Salone Microfinance Trust (SMT)
Salone Microfinance Trust (SMT) is Kiva’s oldest field partner in Sierra Leone. SMT began operations in 2002 as a microcredit program of the NGO Child Fund Sierra Leone under a USAID program to assist the reintegration of ex combatants back into their communities. Today, SMT offers group, agricultural, individual and salary loans to micro-entrepreneurs through six branches and one sub-branch in rural, urban, and peri-urban areas. By providing small loans and other financial services, SMT empowers poor clients to generate more income to help their families, improve their wellbeing, and create a more vibrant private small-business sector in Sierra Leone.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.